VODACOM GROUP LIMITED - NEOTEL - Voluntary update announcement
VOD 201603010030A
NEOTEL - Voluntary update announcement
Vodacom Group Limited
(Incorporated in the Republic of South Africa)
Registration number: 1993/005461/06
(ISIN: ZAE000132577 Share Code: VOD)
(ISIN: US92858D2009 ADR Code: VDMCY)
(“Vodacom”)
NEOTEL - VOLUNTARY UPDATE ANNOUNCEMENT
Shareholders are referred to the announcements of 8 and 10 December 2015
regarding the entering into of a modified transaction which contemplated Vodacom
(Pty) Limited (“Vodacom South Africa”) acquiring, inter alia, the majority of Neotel
(Pty) Limited’s (“Neotel”) assets related to its fixed line business as a going concern,
excluding, Neotel’s licenses (spectrum, ECN, ECNS). Contemporaneously, Neotel
would offer a roaming arrangement to all the mobile network operators including
Vodacom South Africa (the “Roaming Offer”) (collectively this then became known as
the “Restructured Transaction”).
Vodacom South Africa and Neotel have confirmed that the agreement between the
parties has lapsed due to regulatory complexities in concluding the transaction as
well as certain conditions not being fulfilled. Accordingly, the parties have agreed
that the proposed restructured transaction can no longer be progressed.
Shareholders are advised that Vodacom South Africa will continue to invest in the
development of its own high-speed communication infrastructure to stimulate greater
competition in the fixed telecommunications sector and support both its business
services offerings and its consumer business.
Midrand
1 March 2016
Sponsor: UBS South Africa (Pty) Limited
ADR depository bank: Deutsche Bank Trust Company Americas
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